The Canadian heavy crude discount widened against benchmark West Texas Intermediate (WTI) futures on Thursday, the last day of the monthly trade cycle: * Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, last traded at $12.15 per barrel below WTI, according to Net Energy Exchange. On Wednesday WCS settled at $11.20 per barrel below WTI. * Thursday is the last day of the monthly Canadian crude trading window, in which the bulk of market activity [Read more]
Headlines
Altura Energy Inc. Announces Second Quarter 2019 Financial and Operating Results
Altura Energy Inc. ("Altura" or the "Corporation") (TSXV: ATU) is pleased to announce its financial and operating results for the three and six months ended June 30, 2019. The unaudited interim condensed consolidated financial statements and related management’s discussion and analysis ("MD&A") are available at www.sedar.com and www.alturaenergy.ca. Selected financial and operating information for the three and six months ended June 30, 2019 appear below and should be read in conjunction [Read more]
North Dakota oil production up 30,000 bpd in June vs May to 1,425,000 bpd
Oil production in North Dakota rose 30,000 barrels-per-day (bpd) to 1,425,000 bpd in June, monthly data from the state Industrial Commission showed. The data was released on the North Dakota Industrial Commission's monthly index report page and has been rounded to the nearest 5,000 barrels. It may differ slightly from the commission's general statistics report, also available on its website. [Read more]
Pipestone Energy Corp. Appoints Chief Operating Officer and Closing of the Previously Announced Midstream Transaction
CALGARY, Alberta, Aug. 15, 2019 (GLOBE NEWSWIRE) -- Pipestone Energy Corp. (“Pipestone Energy”) (TSX-V: PIPE) announces the appointment of Dustin Hoffman as Chief Operating Officer (COO) to be effective September 9, 2019. Mr. Hoffman has over 25 years of professional experience, at Encana Corporation and its predecessor companies, where he held several senior management roles in different operating groups such as Deep Basin, Peace River Arch, Montney, Duvernay and most recently as Senior [Read more]
Non-Core Property Divestiture: Non-Operated Interests, Alberta
Sayer Energy Advisors has been engaged to assist a senior oil and natural gas exploration and production company (the “Company”) with the sale of certain non-core oil and natural gas properties located in several areas of Alberta (the “Properties”). The Properties consist of non-operated working interests in the following units: House Mountain Unit No. 2, Kaybob Notikewin Unit No. 1, Nordegg Gas Unit No. 1, Progress Halfway Gas Unit No. 1, Provost Cummings “Y” Unit No. 1, Rycroft Charlie Lake [Read more]
Column: Canada’s dependence on imported fossil fuels reaches a whole new level
It’s already well known that eastern Canada has been using a lot of hard-earned foreign exchange to buy crude oil from faraway places like Saudi Arabia, instead of sourcing it from parts of our own country where it is abundant. Lack of in-country pipelines to facilitate this internal trade is a big part of the situation. In 2018 alone, according to detailed information I recently requested from Statistics Canada, the value of crude oil imported into the country was nearly $20 billion. [Read more]
Oil prices fall on concerns over recession, inventories
Oil prices fell on Thursday, adding to sharp overnight losses as U.S. crude inventories unexpectedly rose, fears of recession mounted and economic data out of China and Europe disappointed. U.S. crude was down 25 cents, or 0.5%, at $54.98 a barrel, having dropped 3.3% in the previous session. Brent crude was down 37 cents, or 0.6%, at $59.11 a barrel by 0300 GMT, after falling 3% in the last session. The combination of a slew of data suggesting a slowdown in global growth amid the [Read more]
Zargon Oil & Gas Ltd. Provides 2019 Second Quarter Results
CALGARY, Alberta, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Zargon Oil & Gas Ltd. (“Zargon” or the “Company”). FINANCIAL AND OPERATING HIGHLIGHTS (THREE MONTHS ENDED June 30, 2019) Funds flow from operating activities of $2.17 million compared to $1.23 million recorded in the prior quarter, and $0.58 million reported in the second quarter of 2018. The increase from the prior quarter was primarily due to higher commodity prices, reduced operating expenses and lower interest expenses due to [Read more]
Prairie provinces have no plans to put carbon tax stickers on pumps
Carbon-tax-fighting governments in Alberta, Saskatchewan and Manitoba say they have no plans to follow Ontario's lead and force gas stations to put anti-carbon tax stickers on their pumps. Ontario's Progressive Conservative government has set Aug. 30 as a deadline for stations to have the stickers posted or face fines of up to $10,000 a day. The stickers say the federal carbon tax has added 4.4 cents a litre to the price of gasoline, which will rise to 11 cents per litre by 2022. In [Read more]
Eagle Energy Inc. Announces Submission to Transfer Listing to the TSX Venture Exchange
Eagle Energy Inc. ("Eagle") announces that it has submitted an application (the "Listing Application") to the TSX Venture Exchange (the "TSX-V") to list its common shares (the "Common Shares") on the TSX-V. In conjunction with this application, Eagle has submitted an application to the Toronto Stock Exchange ("TSX") for voluntary delisting (the "Voluntary Delisting Application") of the Common Shares from the TSX pursuant to Part VII, Section 720 of the TSX Company Manual (the "Manual"). The [Read more]